Sugar futures extend losses, down 0.77%

NEW DELHI: Extending its losses for a third straight day sugar prices fell further by 0.77 per cent to Rs 3,589 per quintal in futures trade today as traders engaged in trimming position to book profits amid higher supplies from mills at the spot market.

At the National Commodity and Derivatives Exchange, sugar for delivery in July month drifted further lower by Rs 28, or 0.77 per cent to Rs 3,589 per quintal with an open interest of 34,020 lots.

On similar lines, the sweetner for delivery in October contracts moved down by Rs 20, or 0.53 per cent to Rs 3,740 per quintal in 13,020 lots.

Analysts said trimming of positions participants to book profits at higher levels and ample stocks at the spot markets due to higher supplies form mills, mainly weighed on sweetner prices at futures trade here.